Acct 623 Midterm 1

subject Type Homework Help
subject Pages 2
subject Words 185
subject Authors James A. Heintz, Robert W. Parry

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page-pf1
The accounts shown in the post-closing trial balance are the ____________________
accounts.
Employers use the ____________________ to transmit employees' W-2 forms to the
Social Security Administration.
A list of all the accounts used by a business is called a trial balance.
The person presenting the check for payment is called the ____________________.
page-pf2
Financial statements commonly prepared by businesses include an income statement, a
statement of owner's equity, and a balance sheet.
By January 31 of each year, employers must provide each employee with a Wage and
Tax Statement called ____________________.
A form of balance sheet that lists the assets at the left and the liabilities and owner's
equity at the right is called a report form of balance sheet.
A business that makes a product to sell is called a(n) ____________________ business.

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